A popular American actress and one of the most powerful women in American showbiz Jane Lynch has founded a non-profit organization aimed at providing college student-to-be and their parents with comprehensive and accurate information about college financing. She is deeply concerned about the intimidating lack of information and low financial awareness of prospective students. Ms. Lynch hopes the National College Finance Center can help high-school leavers to become informed about the options available for them and thus make balanced decisions.
The NCFC website contains information about grants and scholarships as well as student loan programs which every college and university provides. Students can also find there some useful tips on the possible ways to pay off these loans.
Jane Lynch was once a student loan borrower herself. She used the money to fund her education in Illinois State University. She was lucky enough to get out of debts by the time she turned 30. However, this is rather an exception to the rules for most student borrowers are unable to return the money so quickly. According to the information, provided by the Federal Reserve Bank an average student loan amounts to about $20,000 and those who fail to return it in time often face the consequences in the form of late payment penalties and high interest rates.
Ms. Lynch believes it to be the result of scant financial information provided by private loaners, colleges and the Government. An average student or his parents often find it hard to make a good decision based on such limited data. And given the fact that American job market is struggling and there are very few non-STEM field career opportunities available for graduates, the lack of such information can be really deathly.
The great benefit of the NCFC website is that it provides a state-unique database with information about loan options available in every college. It also offers “individualized” information to those who have already burdened themselves with loans helping them to better estimate their tuition expenses and optimize their repayment plans.
Now instead of turning to college for help and ending up with inadequate and sometimes biased data, students have a chance to visit this free resource and get credible information that will help them to avoid making mistakes.
The situation where students come to college to study synthetic biology, engineering physics or nuclear chemistry and end up with majoring in debt instead has run too far. Now everybody understands the importance of encouraging people to think twice before they sink deeper into a slough of student loan debts.